1. Agritech Raises US$200,000
Tanzania's agricultural sector loses TZS 3.9 trillion annually due to inefficiencies and climate-related challenges. MazaoHub tackles this through farming operations software-as-a-service (SaaS) and collaboration with the Tanzania Meteorological Association (TMA). Its app gives farmers AI-powered insights on soil health, crop selection, inputs, and weather. The scalable agronomy platform is designed to work even without internet access.
So far, MazaoHub has analyzed over 127,000 soil samples to help farmers increase yields and reduce fertilizer costs. Mazao Hub currently serves over 39,000 farmers and 750 agribusiness partners in Tanzania’s agribusiness industry.
The company’s success has attracted the attention of investors. It has recently secured TZS 519 million in equity funding from the Catalyst Fund, which is operated under the Global Innovation Lab for Climate Finance.
This investment highlights growing confidence in MazaoHub's climate-smart approach to agriculture. The startup has even greater ambitions. It aims to raise a TZS 3.9 billion seed round and serve one million smallholder farmers by 2027. After all, Mordor Intelligence estimates Tanzania’s agriculture market to be worth TZS 45.2 trillion in 2024 and TZS 59.4 trillion by 2029.
2.
Watu Credit, a mobile financial services (MFS) provider, is set to improve public and private transport in Tanzania. Its new green lending initiative targets unbanked and underserved individuals nationwide.
Watu is providing loans specifically for the purchase of more environmentally friendly three-wheeled vehicles, commonly known as bajajis. Why? Older models often contribute considerably to air pollution. Hence, Watu Credit's program could enhance air quality in our major cities and support climate action nationwide.
In fact, the company provides asset financing across 7 African countries (i.e., Kenya, Uganda, and Nigeria), where it is positively impacting over 4 million individuals. In Tanzania, the initiative was recently launched in collaboration with Hesa Africa, a Dar es Salaam-based marketing agency.
3.
Creditinfo Tanzania (a provider of credit information and risk management services) has partnered with FinView (a Netherlands-based company) to develop a digital debt collection system.
The service includes a user-friendly app that allows debtors to manage their outstanding debts, access payment options, and take control of their financial situation.
Creditors, on the other hand, benefit from faster invoice settlement, improved data quality for decision-making, and optimized communication strategies guided by the digital platform.
4.
Tanzania introduced a Digital Services Tax (DST) in July 2022 to ensure that global tech companies without a physical presence in the country contribute to government revenue.
Between July 2023 and March 2024, Tanzania collected a total of Tsh. 12.6 billion through this tax. That was said during a TRA meeting with editors on April 29.
The DST is paid monthly. Companies must file a return with the TRA by the 7th day of the following month. It is computed as 2% of the total payments that non-resident digital platforms receive from Tanzanian residents. The tax does not apply to business-to-business (B2B) transactions.
This charge aligns Tanzania with a growing global trend of ensuring that international tech companies contribute to the economies where they generate income. Beyond increasing national revenue, it is also promoting fairness in the digital economy.
5.
Exim Bank has partnered with Chef's Pride, a newly launched restaurant in Dodoma.
The collaboration aims to provide exclusive benefits to customers using their Exim cards for payments. This includes special discounts, gift vouchers, and prepaid cards loaded with money as rewards for early adopters and top spenders.
We’re looking forward to the days where numerous banks in Tanzania partner with restaurants, shops, and other consumer-facing businesses (especially in the food and retail sector). It would incentivize customers to use digital payments through attractive offers and rewards for card transactions. T
That shift in consumer behavior, driven by convenience, security, and rewards, can be a major step towards a cashless Tanzania.